Avient (NYSE:AVNT) PT Raised to $53.00 at Stifel Nicolaus

Avient (NYSE:AVNT) had its price target boosted by equities researchers at Stifel Nicolaus from $49.00 to $53.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 16.43% from the company’s current price.

Several other equities analysts have also issued reports on AVNT. Oppenheimer lifted their price target on Avient from $45.00 to $49.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. Wells Fargo & Company raised their price target on shares of Avient from $45.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Avient has an average rating of “Moderate Buy” and an average price target of $46.20.

Avient Stock Down 0.2 %

NYSE AVNT traded down $0.08 during trading hours on Wednesday, reaching $45.52. 26,769 shares of the company’s stock traded hands, compared to its average volume of 463,219. The firm has a market cap of $4.15 billion, a PE ratio of 54.96, a PEG ratio of 0.91 and a beta of 1.53. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.82 and a quick ratio of 1.37. Avient has a 52-week low of $27.73 and a 52-week high of $47.87. The firm has a 50-day simple moving average of $42.37 and a 200 day simple moving average of $38.62.

Avient (NYSE:AVNT) last released its earnings results on Tuesday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.07. Avient had a net margin of 2.41% and a return on equity of 9.26%. The firm had revenue of $829.00 million during the quarter, compared to analyst estimates of $818.45 million. During the same period last year, the business earned $0.63 earnings per share. The business’s revenue was down 2.0% on a year-over-year basis. Sell-side analysts anticipate that Avient will post 2.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Avient by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 10,368,900 shares of the company’s stock worth $431,035,000 after purchasing an additional 34,399 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Avient by 0.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,128,934 shares of the company’s stock worth $179,196,000 after acquiring an additional 36,742 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Avient by 11.4% during the 4th quarter. Franklin Resources Inc. now owns 3,724,336 shares of the company’s stock valued at $154,821,000 after acquiring an additional 381,610 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Avient by 12.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,438,391 shares of the company’s stock worth $142,937,000 after purchasing an additional 384,452 shares in the last quarter. Finally, Channing Capital Management LLC raised its holdings in Avient by 6.7% in the 4th quarter. Channing Capital Management LLC now owns 2,099,894 shares of the company’s stock worth $87,293,000 after purchasing an additional 131,406 shares during the period. 95.48% of the stock is owned by hedge funds and other institutional investors.

About Avient

Avient Corporation operates as a formulator of material solutions in the United States, Canada, Mexico, Europe, South America, and Asia. It operates in two segments, Color, Additives and Inks; and Specialty Engineered Materials. The Color, Additives and Inks segment offers custom color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets, and specialty inks; custom-formulated liquid system, such as polyester, vinyl, natural rubber and latex, polyurethane, and silicone; and proprietary inks.